Bramble Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August.Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $210.15 Replenished the petty cash fund by writing a check for $205.80. On this date, the fund consisted of $4.20 in cash and these petty cash receipts: freight-out $92, entertainment expense $47.60, postage expense $41.90, and miscellaneous expense $22.80.16 Increased the amount of the petty cash fund to $325 by writing a check for $115.00.31 Replenished the petty cash fund by writing a check for $308.80. On this date, the fund consisted of $16.20 in cash and these petty cash receipts: postage expense $140.00, entertainment expense $94.30, and freight-out $73.10. 1. Journalize the petty cash transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.)2. Post to the Petty Cash account.

Petty cash is a nominal amount that is easily accessible to pay for expenses with little to do…

Answered: Bramble Company maintains a petty cash…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bramble Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August.

Aug. 1		Established the petty cash fund by writing a check payable to the petty cash custodian for $210.
15		Replenished the petty cash fund by writing a check for $205.80. On this date, the fund consisted of $4.20 in cash and these petty cash receipts: freight-out $92, entertainment expense $47.60, postage expense $41.90, and miscellaneous expense $22.80.
16		Increased the amount of the petty cash fund to $325 by writing a check for $115.00.
31		Replenished the petty cash fund by writing a check for $308.80. On this date, the fund consisted of $16.20 in cash and these petty cash receipts: postage expense $140.00, entertainment expense $94.30, and freight-out $73.10.

1. Journalize the petty cash transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.)

2. Post to the Petty Cash account.

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